EUR crosses/EUR/USD/FXWW News/Technical Analysis/Trade Ideas

EUR makes gains across the board as progress made on bank-plan

  • Reuters reported that the EZ is making significant progress in coming up with a plan to tackle ailing banks;
  • EUR/USD consolidated it’s steady gains of recent days and is still targeting trend highs at 1.3830 (see chart). A clean break above there targets 1.40, always important psychologically and a magnet for options market;
  • EUR/GBP regained the .8400 handle but resistance will be very strong between .8465/.8500;
  • EUR/AUD made a fresh bullish drive after the consolidation period above 1.5030 ended.

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